MCX Gold And Silver Price (Photo Credits: Canva)
Gold and silver prices in India remained broadly unchanged on Sunday, March 8, as investors kept a close watch on global economic signals and geopolitical developments.
Analysts say the outlook for precious metals in the coming week will depend largely on inflation trends, expectations around US interest rates, and tensions in the Middle East.
According to market projections, futures on the Multi Commodity Exchange of India (MCX) indicate that gold could trade in the range of ₹1,55,900 to ₹1,64,000 per 10 grams in the coming trading week. Meanwhile, silver is expected to move between ₹2,49,000 and ₹2,85,000 per kilogram.
The projected range suggests that bullion markets may witness volatility as traders evaluate global economic cues and geopolitical risks.
Despite ongoing geopolitical tensions in the Middle East, precious metals have struggled to gain strong upward momentum in March 2026. One major reason is the strengthening US dollar, which has limited gold’s appeal as a traditional safe-haven asset during times of uncertainty.
Market participants are currently pricing in the possibility of only one interest rate cut by the Federal Reserve this year. At the same time, expectations of a possible rate hike have also risen as policymakers attempt to control inflation.
Oil prices also climbed sharply last week, rising more than 22% on a weekly basis, marking the biggest increase since early 2022. Higher energy prices can contribute to inflationary pressures, which often influence investor sentiment and movements in the precious metals market.
In the domestic bullion market, gold prices across different purity levels remained under watch among investors and buyers tracking market trends.
24-karat gold: around ₹16,364 per gram
22-karat gold: approximately ₹15,000 per gram
18-karat gold: near ₹12,273 per gram
These rates may vary slightly across cities depending on local demand and jewellers’ margins.
Silver also showed notable movement in the domestic market. The metal was trading at roughly ₹285 per gram, which translates to about ₹2,85,000 per kilogram in India.
The price movement reflects global market trends, currency fluctuations, and investor demand.
Market analysts say several global and domestic factors influence bullion prices. These include movements in the US dollar, global economic conditions, geopolitical developments, and demand from jewellery buyers and investors.
Currency movements, particularly the rupee’s performance against the dollar, can also impact precious metal prices in India. Additionally, futures trading on the Multi Commodity Exchange of India remains sensitive to international cues, often leading to short-term volatility in both gold and silver markets.
With inflation concerns, global monetary policy signals, and Middle East tensions shaping market sentiment, analysts expect precious metals to remain volatile in the coming days.
Sofia Babu Chacko is a journalist with over five years of experience reporting on Indian politics, crime, human rights, gender issues, and stories about marginalized communities. She believes journalism plays a crucial role in amplifying unheard voices and bringing attention to issues that truly matter. Sofia has contributed articles to The New Indian Express, Youth Ki Awaaz, and Maktoob Media. She is also a recipient of the 2025 Laadli Media Awards for gender sensitivity. Beyond the newsroom, she is a music enthusiast who enjoys singing. Connect with Sofia on X: https://x.com/SBCism
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